Archer Aviation Inc. (ACHR) shares plummeted by 5.10% in the pre-market trading session on Tuesday. This pre-market plunge comes as the electric aircraft startup filed for an automatic mixed securities shelf offering.

In a regulatory filing, Archer Aviation disclosed that it plans to offer an indeterminate amount of securities, including common stock, preferred stock, debt securities, warrants, and units. The filing allows the company to periodically access the capital markets to raise funds through the sale of these securities over the next three years.

While the details and timing of any potential offerings are yet to be determined, the announcement of a potential share dilution has likely weighed on investor sentiment, leading to the pre-market sell-off in Archer Aviation's stock.